Birkenstock (NYSE:BIRK) Upgraded to "Buy" by UBS Group (2024)

Birkenstock (NYSE:BIRK - Get Free Report) was upgraded by research analysts at UBS Group from a "neutral" rating to a "buy" rating in a research report issued to clients and investors on Monday, reports. The firm presently has a $85.00 target price on the stock, up from their prior target price of $52.00. UBS Group's target price suggests a potential upside of 53.46% from the stock's previous close.

A number of other research analysts also recently issued reports on BIRK. Robert W. Baird upped their price target on Birkenstock from $58.00 to $65.00 and gave the company an "outperform" rating in a report on Friday, May 31st. JPMorgan Chase & Co. upped their price target on Birkenstock from $56.00 to $64.00 and gave the company an "overweight" rating in a report on Monday, June 3rd. Morgan Stanley increased their target price on Birkenstock from $44.00 to $58.00 and gave the company an "equal weight" rating in a report on Tuesday, June 25th. Telsey Advisory Group reissued an "outperform" rating and issued a $56.00 target price on shares of Birkenstock in a report on Thursday, May 30th. Finally, The Goldman Sachs Group downgraded Birkenstock from a "buy" rating to a "neutral" rating and increased their target price for the company from $54.20 to $58.00 in a report on Wednesday, June 12th. Five analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $60.12.

Read Our Latest Stock Report on BIRK

Birkenstock Trading Up 1.8 %

Shares of NYSE BIRK traded up $0.98 during trading on Monday, reaching $55.39. The company had a trading volume of 4,090,636 shares, compared to its average volume of 849,987. The company has a current ratio of 2.87, a quick ratio of 1.13 and a debt-to-equity ratio of 0.56. Birkenstock has a 12-month low of $35.83 and a 12-month high of $61.83. The business's 50-day moving average is $51.79 and its 200 day moving average is $48.75.

Birkenstock (NYSE:BIRK - Get Free Report) last announced its quarterly earnings results on Thursday, May 30th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.35 by $0.09. The business had revenue of $522.51 million for the quarter, compared to the consensus estimate of $499.98 million. On average, sell-side analysts predict that Birkenstock will post 1.36 EPS for the current year.

Institutional Trading of Birkenstock

Several institutional investors have recently made changes to their positions in BIRK. Banque Cantonale Vaudoise purchased a new stake in shares of Birkenstock during the first quarter worth about $40,000. Tower Research Capital LLC TRC purchased a new stake in shares of Birkenstock during the fourth quarter worth about $77,000. Venturi Wealth Management LLC purchased a new position in Birkenstock during the 4th quarter valued at approximately $83,000. CWM LLC grew its holdings in Birkenstock by 358.2% during the 1st quarter. CWM LLC now owns 2,181 shares of the company's stock valued at $103,000 after buying an additional 1,705 shares in the last quarter. Finally, Connable Office Inc. purchased a new position in Birkenstock during the 4th quarter valued at approximately $216,000. Hedge funds and other institutional investors own 19.93% of the company's stock.

Birkenstock Company Profile

(Get Free Report)

Birkenstock Holding plc manufactures and sells footwear products. It also offers sandals, shoes, closed-toe silhouettes, skincare products, and accessories. The company sells its products through e-commerce sites and a network of owned retail stores, as well as business-to-business channels. It operates in the United States, Brazil, Canada, Mexico, Europe, APMA, and internationally.

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Birkenstock (NYSE:BIRK) Upgraded to "Buy" by UBS Group (3)

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Birkenstock (NYSE:BIRK) Upgraded to "Buy" by UBS Group (2024)
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